General assumption is that the summer is a great time to sell your home in Denver and because of this assumption, sellers will often hold off until summer to sell. Although, we seem to have a reverse market in Denver. While most cities find the most competitive time of year to be summer, Denver’s hottest time of the market is the winter. Buyers come out earlier than typical in Denver while sellers often wait until Spring. This creates a competitive marketplace between the months of January – May. During this time is when we see multiple offers and homes going under contract very quickly in Denver.
The above graph shows when sellers and buyers have opportunity in the Denver real estate market. You will see that right now is the best time to sell your home. We are in the best season for a seller to sell their home. We are still are in a strong sellers market and should expect to see it cool off in April while providing more opportunity to buyers June.
As the Spring approaches we see two things happen. One, more sellers come on the market helping to fulfill the buyer demand and two, buyers start to leave the market because of buyer fatigue. Homebuyers get tired of competing for a home and decide to wait another year. This is a very unfortunate misstep as the summer months provide buyers a lot more breathing room and negotiation power.
What does this all mean?
Sellers need to list now. They will receive top dollar and most likely will have buyers competing for their home. This will also help fulfill some of the ravenous buyer demand.
Buyers need to hold on there and keep at it. Take a rest, if needed, and use this chart as inspiration and a roadmap to the Denver real estate market.
Wondering what your home is worth? Wondering what your home is worth? Head here or reach out to Liz!
Liz is broker and owner of Liz Daigle Realty.